Non-lawyers owning law firms

Our neighbors to the north have joined their Commonwealth brethren in Australia and the U.K. in allowing non-attorneys to own law firms.

And the world hasn’t caved in.

Bar associations in the United States have yet to go down a similar path, but the corporationization of law firm ownership makes sense on many levels – it would allow the firms to raise capital easier, and (theoretically, at least) reward efficiency and innovation.

American lawyers might not like the idea, but circumstances and market demands may force change regardless.

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